Here’s our 82th AMA recap!

Thank you to the Infinity Chain for participating in Ask Me Anything (AMA) with Bunicorn June 8, 2021. This guest star,

Phuc Nguyen — Founder & CEO

INTRODUCTION

Phuc Nguyen :
I’m Phuc Nguyen Founder & CEO of Bunicorn. Here are some highlights about me:

Former Google Summer of Code participant
Samsung Smart App Challenge winner
Former Researcher of NASA Ames’s Java PathFinder project
Former Project Manager at DeNA, a giant game company in Japan
Co-founder & COO of a leading blockchain development firm in Vietnam & SEA with hundreds of blockchain & Dapp engineers
Former CTO of a centralized exchange under Signum Capital & Bitmex’s portfolio

I have hands-on experience in scalability & security for the centralized system in general and exchanges in particular. I have been working on decentralized projects from the protocol to the application layer.

Starting out, could you please provide us with a simple description of BuniCorn?

Phuc Nguyen :
well, Bunicorn is a BSC-powered DEX that combines: Flexible Pools with a customizable number of tokens, weight, fee; and Stable Pools with super low slippage, high capital efficiency for swapping stablecoins.

Additionally, Bunicorn introduces an innovative Yield Farming model with vesting rewards wrapped in NFT collectibles.

Could you please give a brief intro of BuniCorn salient features? How can be the best solution than any other projects?

Phuc Nguyen :
We have many outstanding features that can outrace other DEXs on BSC:

- Flexible AMM pools with a customizable number of assets and weights within a pool. This simulates a real index fund in real life. It also mitigates the risk of exposing too much capital to a high volatile token like traditional uni/pancake 50:50 pools.

- Amplified pools that allow trading between stablecoin pairs with lower slippage and higher capital efficiency.

- Liquidity Bootstrapping Pool, a fair token distribution against front-running bots.

- Smart order routing that automatically split your swap across several pools for optimized price.
- Dynamic fees adjusted base on the underlying volatility.
- Liquidity providers can also join multi-token pools with a single asset.
- Innovated yield farming model with vesting rewards wrapped in NFT collectibles.

Tell us about the BUNI token. what are the advantages of holding BUNI token?

Phuc Nguyen :
BUNI is our governance token. BUNI holders need to lock their tokens to receive the profits from trading fees & other revenue streams in the future.

BUNI token holders can also vote for improvement proposals to the Bunicorn platform as well.

Other than that, we intend to provide more defi services such as gaming, launchpads, LBP… etc. Users will have to stake their BUNI to get the entry ticket to these additional services.

and of course, staking BUNI will help you to gain the highest APY yields in our farms

What security BUNI have taken to keep the investors and users funds secure? Has BuniCorn been audited?

Phuc Nguyen :
We’ve done several audits both internally and externally by hacken.io. We’ll announce a bug bounty program soon hosted by immunefi tentatively on 10th June.

we’ll also partner with InsurAce to secure the TVL for our LPs in the future

little extra info: the bug bounty reward is up to $50K

About the Roadmap, what can we expect from BuniCorn in the near future, are there any new events coming up and what is being planned in the future?

Phuc Nguyen :
We have finished the first phase of our product roadmap that offers:
- Flexible Pools controlled by smart contracts. It allows dynamic settings from the number of tokens, weight, swapping fee, etc.
- Stablecoins pools with super low slippage and higher capital efficiency.
- Liquidity Bootstrapping Pool, a fair token distribution against front-running bots.
- Yield Farming + NFT reward vesting

TESTNET ALREADY AVAILABLE — https://staging.buni.finance/#/trade/tokens

In the future:
- We’ll make NFT vesting tokens that have already been completed in the first phase to become collectible bunnies and build a marketplace so you can exchange/auction them.
- We’ll be having a Governance system, so that Buni token holders can lock up the Buni to vote, earn the trading fee profits, buyback, and burn BUNI tokens.
- A mobile app for our DEX
- To have other Defi products such as Lending added to the platform.
- To build our next version in Polkadot via Polkafoundry

The full roadmap is available here: https://buni.finance/#roadmap

QUESTIONS TWITTER

Q1. One of the early goal of Bunicornswap for 2022 is to bridge with Polkafoundry. So,why does your platform choose Polkafoundry ? What advantages did you see with Polkafoundry? Can you give us a little idea regarding this plan of yours which is bridging Polkafoundry?

Phuc Nguyen :
Yes, we have Thi (who is the Founder & CEO of PolkaFoundry) as our executive advisor. We have agreed that we’re gonna have a bridge to Polkadot substrate & para chain ecosystem in Q1 2022 right after Polkafoundry launched their mainnet.

The first reason why we chose PKF is because it is EVM compatible, so it would be easier for us bring our platform over.

As one of the leading Polkadot’s parachain and possibly subtrate, PolkaFoundry inherits the Polkadot’s power to seamlessly bridge between different blockchains together. Thus, it’s a perfect match for Bunicorn because we envision ourselves as a lightning fast & gasless DEX atop multiple chains in the future.

Q2. Can you explain how Yield Agriculture will work with the NFT-based progress payment model in BuniCorn?
How will you use NFT technology in your Yield Farming model? Also, will NFT benefit you only for the Yield Farm, or will you take all NFT’s opportunities?

Phuc Nguyen :
well a high APY liquidity mining program often comes with greater risk

it is when LPs immediately sell their token rewards

Also, a high APY yield farming program introduces a higher inflation rate of the token supply.

Bunicorn reduces these token price devaluation risks by locking up farming rewards in wrapped NFTs to take them out of circulation. These NFTs continue to provide value including trading opportunities to liquidity miners.

The NFTs as collectibles can be ascribed additional value. Bunicorn will rank the rarity of the NFT collectibles based on the amount of underlying assets wrapped in that token.

For instance, a $1M BUNI token could be considered Ultra Rare or Super Rare. Separately, the wrapped NFTs can have collectibles value as works of art.

Bunicorn will also generate tailored-made designs, a unique algorithmically generated Bunny character, similar to that of Crypto Kitties or Polkamons.

Q3. I read on your Roadmap that you are aiming to transition to Governance 2 and burn tokens in the last quarter of 2021. So, can you tell us more about how to apply a governance model to the Governance 2 business? Also, why are you planning to burn coins during this period and how many coins will be burned?

Phuc Nguyen :
Yes we aim to further extend our governance system in Q4 this year to support token burning process.

Once it’s implemented, we’ll let our token holders to decide how much of the revenue will be used to buy back & burn the tokens.

The actual amount is not defined yet, it totally depends on the revenue we earned from the swapping fees, NFT exchange fees and other services.

QUESTIONS TELEGRAM

From : @Loversss10liquidity is one of the biggest challenge in Decentralized Finance. So, what steps does your projects take to solve the problem?

Phuc Nguyen :
To answer this question, let’s take a step back and see what’s the pain points of the current DEXs out there. Owing to the high price volatility in cryptocurrencies, liquidity providers (LPs) using the most popular AMMs like Uniswap or PancakeSwap have high exposure to two types of price risk: impermanent loss and slippage.

So firstly we innovated our AMM model so that it optimizes profit for the liquidity provider & reduces the risk of impermanent loss with flexible number tokens per pool, different weight & stable-coin only pools.

For example, an LP can easily add their stablecoin to our pool even in the bear market because there’s almost no risk. They can also choose a pool which has 80% of the assets belong to their long-term portfolio.

The liquidity mining with vested rewards also helps us to design a better APY compared to other platforms. This gives LP more reason to stake their assets in Bunicorn.

From : @Siddiq0000Hello sir…Does your project support staking program?if yes. how is your stake system work, what is the requirement for user if they want to stake in your platform?

Phuc Nguyen :
Currently, there are 2 ways to earn our free governance token (BUNI):
- Stake BUNI, earn BUNI via our first BUNI pool. In the future, you can stake BUNI to earn more kinds of tokens as we’re onboarding new token teams to the platform.
- Stake BPT (Buni Pool Token), earn BUNI. BPT is what you get after you provide liquidity to an AMM pool.

There is no requirements, and the only difference is you’ll get an NFT as a farming reward as well.

From : @jake901Hello Sir,Currently we don't have any mainnet plan but I future , if our community is willing to have it , we will definitely try for itThank You Sir

Phuc Nguyen :
You can already try our testnet here: https://staging.buni.finance/ The mainet will be launched about 2 weeks after the public sales of our token. We’ll announce an airdrop program to reward early adopters that tried to use our testnet as well. Stay tuned for our update in @bunicornswap_en in the next few days

From @Tuberiferous Projects that are not traded on major exchanges remain unnoticed. What do you think about listing the token on the well major exchanges?

Phuc Nguyen :
We’re very lucky to be backed by reputable VC including Signum, Krypital, LD, JRR, X21, GBV, PNYX, Basics, Momentum6… and MXC as well. Through the connection, we’ve approached several big CEXs such as gate.io and kucoin already. However, the exact CEX that we choose to be listed on is not yet decided.

QUIZ

What is the maximum number of tokens that can be contained in the pool on Bunicorn?a. 2
b. 4
c. 6
d. 8
One answer — one option. Let’s go 🚀

Tomek :
Correct! Users will add liquidity to with up to 8 tokens in the liquidity pool with any weight & low slippage for stablecoins. 🦾

Winner @MikotoMiyuki : D

Which network is being used on Bunicorn testnet?1. Ropsten
2. Kovan
3. Rinkeby
4. Goerli

Tomek :
Absolutely right! Our testnet can be played on Kovan testnet. You can play around our testnet interface by clicking here: https://staging.buni.finance/ (Make sure to have some Kovan ETH to do some test transactions :)

Winner @HeRmAwAnTrAdEr : 2

How Bunicorn users can to earn our free governance token (BUNI) on the platform?

Jaki Mất Nịt :
Currently, there are 2 ways to earn our free governance token (BUNI):
- Stake BUNI, earn BUNI via our first BUNI pool. In the future, you can stake BUNI to earn more kinds of tokens as we’re onboarding new token teams to the platform.
- Stake BPT (Buni Pool Token), earn BUNI. BPT is what you get after you provide liquidity to an AMM pool.

There is no requirements, and the only difference is you’ll get an NFT as a farming reward as well.

Winner @tv100029

What is VBUNI token and its use-case in the Bunicorn ecosystem?

🐲 Long Vương 🐲 :
receive an NFT token containing the VBUNI

Winner @bihu1106

Thank you for trusting Infinity Chain as the organizer of the event today, hopefully everyone can understand about Bunicorn.

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